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Benefits of College Graduation - 8/4/16

There has been a lot of focus on student debt recently.  There is evidence that some Americans have chosen to forego a higher education out of a desire to avoid accumulating debt.  Still, there is plenty of evidence indicating that pursuing a college degree remains a very good idea. 

According to a new report from the Center on Education and the Workforce at Georgetown University, of the eleven point six million jobs created after the Great Recession, more than eight million went to those with at least a bachelor’s degree.  Another three million positions went to those with associate’s degrees or some college education. 

As reported by CNNMoney, Americans with only a high school diploma represent a shrinking share of the workforce.  This year, for the first time, college graduates made up a larger share of the labor market than those without higher education – thirty six percent to thirty four percent.  As late as the early nineteen eighties, more than seventy percent of Americans entered the workforce right out of high school. 

College graduates are also more likely to obtain good jobs, which Georgetown defines as paying more than fifty three thousand dollars a year.  Those with only high school diplomas have actually been losing good jobs on net. 

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.